APM Terminals Yucatán, operator of the Port of Progreso in Mexico, unveiled an investment to expand and modernize the port’s container terminal.
The terminal has doubled its volumes from 80,000 to 140,000 TEUs throughput over the last two years. This year alone the terminal, which provides the region with connectivity through 5 vessels a week, including direct connections with the US and Europe, expects 20-35% further growth in volume, the port operator said.
“We are committed to the long-term sustainable development of the region and are delighted to announce that we have signed an addendum with the port authority to commence a 20% expansion of the yard to support the region’s growing trade needs, as well as other investments to improve productivity and efficiency,” Martijn Koolen, Managing Director of APM Terminals Yucatan, said.
“This represents a significant additional investment on top of the USD 22.6 million that has already been invested in the terminal since the concession began in 2005,” Koolen added.
The modernization will include a 20% expansion of the yard capacity, representing an investment of USD 714,000; acquisition of two new reach stackers to improve operational productivity; as well as software optimization and launch of a digital client portal to streamline transactional efficiency.